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200-Day Still in Play After.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: 200-Day Still in Play
After closing above the 200-dma at 0.8835 yesterday for the first time since Oct
4 on Monday, EURGBP has since fallen back below the level. The cross is
currently directionless with a move back below the 61.8% YTD retracement at
0.8803 likely to provide some more downward momentum and open up the Oct 10 low
at 0.8723. To the topside the 0.8860 level is providing some resistance,
preventing bulls from closing above 0.8850 yesterday. A break above here would
bring the 0.8916 level into focus (61.8% YTD retracement). Bears now need a
close back below the 200-dma to target the 0.8800 level needed to reignite
downside momentum.

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